Key projects
Web, 14/12/2016, 08:40 GMT+7
Signing operation insurance contract for Vung Ang 1 Thermal Power Plant Period 2016-2017
In the afternoon of 06th December 2016 in Hanoi, PetroVietnam Power Corporation (PV Power) and PetroVietnam Insurance Corporation (PVI) held a meeting to sign the operation insurance contract for Vung Ang 1 Thermal Power Plant in the Period 2016 – 2017.

Attending the meeting were PV Power Chairman of Board of Directors Ho Cong Ky, PV Power General Director Nguyen Xuan Hoa, Members of the Board of Directors, the Executive Management Board, the Control Division and heads of functional divisions/ offices of the Corporation.     

 

Representing PVI Corporation to attend the meeting were PVI Chairman of Board of Directors Nguyen Anh Tuan, PVI Deputy General Director Pham Anh Duc and representatives for PVI’s divisions.   

 

PV Power Deputy General Director Pham Xuan (on the left) and PVI Deputy General Director Pham Anh Duc were signing the contract    

 

Based on the actual situation of Vung Ang 1 Thermal Power Plant after 1 year of operation, despite many difficulties in arranging the renewal of operation insurance policies for Vung Ang 1 Thermal Power Plant in the period 2016- 2017, with continuous efforts of the negotiating group of PetroVietnam Power Corporation and PetroVietnam insurance Corporation, the parties have concluded with terms and conditions for the operation insurance program by the prescription 2016 – 2017.

 

PetroVietnam Insurance Corporation is an international-rated insurer with longtime reputation and close relationship with international markets. With its professional and enthusiastic staff, PVI is currently the leading insurance company in Vietnam insurance market both in terms of revenue and efficiency.

 

 

As a consultant and risk manager for the entire assets of Vietnam Oil and Gas Group, and also a company with the leading capacity and reputation in Vietnam insurance market, PVI has been selected as the local insurer to issue application forms and implement the insurance policy for Vung Ang 1 Thermal Power Plant in the periods 2015-2016 and 2016-2017.

 

PV Power Chairman of Board of Directors Ho Cong Ky was giving a speech at the meeting

 

PV Power Chairman of Board of Directors Ho Cong Ky expressed his gratitude for continuous efforts of the negotiating group. PV Power Chairman of Board of Directors emphasized that the meeting to sign the operation insurance contract for Vung Ang 1 Thermal Power Plant in the period 2016 – 2017 is an important prerequisite for long-term and sustainable cooperation between the parties. He hoped that in the near future, PV Power would continue receiving close cooperation and coordination of PetroVietnam Insurance Corporation not only in the insurance activities in particular for power plants but also in training skills to prevent insurance risks of PV Power in general.

 

PVI Chairman of Board of Directors Nguyen Anh Tuan was giving a speech at the meeting

 

PVI Chairman of Board of Directors Nguyen Anh Tuan stressed that PV Power should feel secure of the cooperation between the two parties, as PetroVietnam Insurance Corporation has a lot of experiences with power plants. Furthermore, PVI also undertakes to provide the best insurance services for the plant, ensuring safety, continuity and success of the plant’s insurance program and contributing to the overall success of the two sides.

 

The above insurance contract is a result of effective cooperation between PetroVietnam Insurance Corporation and PetroVietnam Power Corporation in order to ensure safety for national key projects as well as to affirm the outstanding prestige, professionalism and competitiveness of PetroVietnam Insurance Corporation.